EUR/CHF Technical Analysis October 18, 2011
The EUR/CHF pair continues to sit still on Monday as the market isn’t willing to test the resolve of the Swiss National Bank. The SNB has put a “floor” in on this pair at the 1.20 level, and it appears that the market is in no mood to see if it can break that level. The fact that the Euro sold off against everything else rapidly, but not the Franc shows just how tight this market really is. We only want to buy this market, as we don’t fight central banks – but aren’t seeing many reasons to buy the Euro as a whole. In the mean time, we can only watch the EUR/CHF market.
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